Apple worth more than double nearest runner-up Exxon

Apple’s shares continue to soar, setting record highs. Its market cap has now reached $765 billion, which means the company has pulled off the rare feat of being worth twice as much as the second-place publicly traded US company – Exxon.

Exxon’s Mobil Corp’s
market cap has settled at $374 billion. The last time a company
with the highest market value was worth twice as much as the
second largest was 30 years ago, according to Howard Silverblatt,
a senior index analyst for Standard & Poor's Dow Jones
Indices, The Wall Street Journal reported.

From 1983-1985, IBM's market cap was double that of Exxon, which
placed second all three of those years. At one point, IBM was
worth 140 percent more than Exxon.

Apple first surpassed Exxon in 2011 and has held the top spot
without much competition. Last summer, however, the iPhone
manufacturer created an even greater gap between itself and
Exxon’s market cap. Apple's market cap has continued to grow in
2015; it is up 19 percent, while Exxon's has fallen by 3.7
percent.

Earlier this month, Apple became the first US company to close a
trading session with a market cap over $700 billion. Experts are
saying its stock is expected to rise higher still.